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The international market research institute Reportlinker.
com recently released a high-voltage cable market report that the compound annual growth rate of the global high-voltage cable market from 2020 to 2024 is about 5%, and the market size is expected to grow by 13.
63 billion US dollars
during the period.
According to the report, the increase in investment in renewable energy projects, the renovation and expansion of transmission and distribution infrastructure, the rapid growth of offshore wind power and the increase in long-distance transmission demand are promoting the stable growth
of the high-voltage cable market.
On the other hand, fluctuations in the prices of base metals such as copper and aluminum will also affect the development of
this market.
In terms of market region, the global high voltage cable market is mainly divided into Asia Pacific, Europe, North America, South America, Middle East, and Africa
.
Among them, Asia Pacific is expected to be the market with the largest demand in the region during the forecast period
.
The emerging markets in the Asia-Pacific region, represented by China and India, with the acceleration of urbanization and industrialization, the increasing demand for long-distance power transmission, coupled with the fact that these two countries are also the world's major renewable energy markets, will stimulate the growth
of high-voltage cable demand in the region.
Europe is a major market for offshore wind, and the rapid deployment of offshore wind power in Europe will continue to drive the demand for high-voltage cable products in the region during the forecast period
.
At the same time, the deployment of offshore wind power in North America and the renovation and expansion of aging infrastructure will also contribute to the growth of high-voltage cable market demand in the region
.
From the manufacturer's point of view, the global high voltage cable market is highly fragmented
.
During the forecast period, Prysmann (which has acquired General Cable), Nexans, LS Cable, Sumitomo Electric, Fujikura Cable, Furukawa Electric and Nktor Cable will become the world's leading high-voltage cable manufacturers
.
At the same time, other regional manufacturers, such as Far East Smart Energy, Zhongtian Technology, Polycab in India, Dubai Cable in the Middle East, and Southern Cable in North America, will also become strong competitors in their respective regions
.
The international market research institute Reportlinker.
com recently released a high-voltage cable market report that the compound annual growth rate of the global high-voltage cable market from 2020 to 2024 is about 5%, and the market size is expected to grow by 13.
63 billion US dollars
during the period.
According to the report, the increase in investment in renewable energy projects, the renovation and expansion of transmission and distribution infrastructure, the rapid growth of offshore wind power and the increase in long-distance transmission demand are promoting the stable growth
of the high-voltage cable market.
On the other hand, fluctuations in the prices of base metals such as copper and aluminum will also affect the development of
this market.
In terms of market region, the global high voltage cable market is mainly divided into Asia Pacific, Europe, North America, South America, Middle East, and Africa
.
Among them, Asia Pacific is expected to be the market with the largest demand in the region during the forecast period
.
The emerging markets in the Asia-Pacific region, represented by China and India, with the acceleration of urbanization and industrialization, the increasing demand for long-distance power transmission, coupled with the fact that these two countries are also the world's major renewable energy markets, will stimulate the growth
of high-voltage cable demand in the region.
Europe is a major market for offshore wind, and the rapid deployment of offshore wind power in Europe will continue to drive the demand for high-voltage cable products in the region during the forecast period
.
At the same time, the deployment of offshore wind power in North America and the renovation and expansion of aging infrastructure will also contribute to the growth of high-voltage cable market demand in the region
.
From the manufacturer's point of view, the global high voltage cable market is highly fragmented
.
During the forecast period, Prysmann (which has acquired General Cable), Nexans, LS Cable, Sumitomo Electric, Fujikura Cable, Furukawa Electric and Nktor Cable will become the world's leading high-voltage cable manufacturers
.
At the same time, other regional manufacturers, such as Far East Smart Energy, Zhongtian Technology, Polycab in India, Dubai Cable in the Middle East, and Southern Cable in North America, will also become strong competitors in their respective regions
.
